Battered by soaring fuel prices, Milwaukee-based Midwest Airlines says it will cut some flights and lay off 109 employees, including 35 pilots.
Midwest CEO Tim Hoeksema said the moves are necessary to trim costs stemming from what he called “staggering” fuel prices. But he said the company remains “committed to our core business routes.”
Noting that several airlines have recently declared bankruptcy, he said the Midwest cuts “will allow us to maximize revenues, reduce our cost structure, provide for sufficient cash and help us weather this storm, moving forward.”
Hoeksema said capacity reductions reflect a “common sense trimming back” of flight frequencies. The adjustment represents about a 2.5 percent reduction of the airline’s available seat miles from 2007.
See release: http://www.wisbusiness.com/index.iml?Article=123789